I own the LX5 and I used an X10 for a while (before sending it in for sensor replacement, and after 5 weeks waiting, getting an "cannot be repaired message", and abandoning the camera).

I got the LX5 because of the dreaded orb issue on the X10, but from the beginning, I felt the Fuji was the better camera.

The LX5 is nice to use, but to my eyes, the colours were just plain wrong. No single camera I've had gave me such headaches regarding colours as the LX5, and I've had a few. Looking through my pictures, I could not find a single portrait where I was happy with the skin tone rendering.
The X10 is MUCH better in that aspect. The colours are fantastic.

Also, Panasonic noise reduction is just plain terrible, leaving tons of chroma noise behind and suppressing all detail. The Fuji wipes the floor with it.

Also, the Fuji lens is generally sharper. The Leica is very good at wide angle, but is really soft wide open at tele. The lens only becomes acceptably sharp at 4.0, making it a full stop slower than the Fuji at the tele end.

All in all, if you appreciate the Panasonic's colours (anyone can???) or want to shoot raw only, the LX5 is a fantastic camera, and I'm really sorry to see it go, but finally, I settled on a Canon S100, and I'm happy I did.